01 Jan Unlocking Revenue Potential: Improving Hospital Use of ONC-Certified Electronic Health Records

By: Empower Systems

Hospitals face constant pressure to enhance financial performance while maintaining high standards of patient care. One powerful yet often underutilized tool in this endeavor is the ONC-certified electronic health record (EHR) system. By optimizing the use of these systems, hospitals can unlock significant revenue potential through improved operational efficiency, better reimbursement processes, and enhanced patient outcomes.

Understanding ONC Certification

The Office of the National Coordinator for Health Information Technology (ONC) certifies EHR systems that meet stringent standards for functionality, interoperability, and security. These certifications ensure that EHR systems are capable of supporting key healthcare initiatives, such as value-based care and interoperability, which are increasingly tied to financial incentives and reimbursement.

Revenue Opportunities Through Enhanced EHR Utilization

1. Streamlining Revenue Cycle Management

ONC-certified EHR systems provide tools to automate and improve revenue cycle processes, from patient registration to final billing. By leveraging these capabilities, hospitals can:
– Reduce claim denials through accurate coding and real-time eligibility verification.
– Accelerate payment collection by streamlining billing workflows.
– Identify and address gaps in reimbursement through advanced analytics.

2. Maximizing Incentive Payments

Many government programs, such as the Medicare Access and CHIP Reauthorization Act (MACRA) and the Promoting Interoperability Program, offer financial incentives for hospitals that demonstrate meaningful use of certified EHR systems. By optimizing their EHR usage, hospitals can qualify for these programs and avoid penalties tied to non-compliance.

3. Enhancing Clinical Documentation

Accurate and comprehensive clinical documentation is critical for maximizing reimbursement. ONC-certified EHR systems support improved documentation practices by:
– Offering structured templates and decision-support tools to ensure accurate coding.
– Integrating natural language processing (NLP) capabilities for easier documentation.
– Ensuring compliance with payer requirements, reducing audit risks.

4. Improving Patient Outcomes and Value-Based Care Metrics

Value-based care models link reimbursement to patient outcomes. ONC-certified EHR systems enable hospitals to track and improve quality metrics by:
– Providing real-time data analytics to monitor care performance.
– Facilitating care coordination through interoperability with other healthcare providers.
– Enhancing population health management by identifying trends and risk factors.

5. Optimizing Operational Efficiency

Inefficiencies in hospital operations can lead to lost revenue. By fully utilizing ONC-certified EHR capabilities, hospitals can:
– Reduce administrative burdens through automation of routine tasks.
– Minimize redundancies and errors in patient records.
– Enable data-driven decision-making to improve resource allocation.

Steps to Unlock Revenue Potential

1. Conduct a System Audit: Regularly assess your EHR system’s capabilities and identify underused features that could benefit your hospital.
2. Invest in Training: Ensure staff are well-trained in EHR usage to maximize its potential.
3. Leverage Analytics: Use built-in analytics tools to monitor performance, identify trends, and address inefficiencies.
4. Foster Interoperabilit*: Collaborate with external providers and organizations to enhance data sharing and care coordination.
5. Engage Leadership: Secure buy-in from hospital leadership to prioritize EHR optimization as a strategic goal.

Conclusion

Optimizing the use of an ONC-certified EHR system offers hospitals a transformative opportunity to unlock new revenue streams. By streamlining revenue cycle management, enhancing clinical documentation, maximizing incentive payments, and improving patient outcomes, hospitals can strengthen their financial performance while delivering exceptional care. With a focused strategy and commitment to leveraging these advanced systems, the path to greater revenue and sustainability becomes clear.